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Alibaba.com Eyeing Acquisitions Alibaba.com Eyeing Acquisitions(0)

However, Wei declined to give details on acquisition targets for his company, which is the listed unit of Alibaba Group, but said “the priority will be to further boost AliExpress.com.”

AliExpress, which Alibaba formally launched in April after a beta period, is a U.S.-focused online wholesale platform in which Alibaba has said it plans to invest $100 million.

As part of that investment, Alibaba already announced its first U.S. acquisition in June with plans to buy Vendio Services Inc., which helps merchants sell goods on sites such as Amazon.com Inc. and eBay Inc.

Alibaba in April also said it would start accepting payments from users of eBay’s PayPal service on AliExpress. Alibaba plans to enable more payment platforms on AliExpress to ensure payment troubles don’t deter users, Wei said, declining to give details on possible partnerships.

The U.S., India and Japan remain Alibaba’s highest-priority overseas markets, but for the next three years Alibaba will focus on investment in those areas before seeking more benefits from them later, Wei said.

Source : Konaxis

QFIIs to Trade Futures QFIIs to Trade Futures(0)

China started futures trading in April, allowing domestic investors to profit from declines in equities for the first time. The CSI 300 Index, which tracks the 300 most liquid stocks on the Shanghai and Shenzhen stock exchanges, is the underlying index for the futures.

China?s securities regulator allows selected overseas investors to invest in the nation?s stock markets under the qualified foreign institutional investor, or QFII, program.

Currently, 89 qualified overseas institutional investors received $17.72 billion in quotas as of the end of June, the China Securities Journal reported.

Futures, or agreements to buy or sell the CSI 300 Index at a preset value, began trading on the China Financial Futures Exchange in Shanghai on April 16, while margin trading and short selling was introduced March 31.

Each transaction by overseas investors needs to be approved by the China Financial Futures Exchange, according to Monday?s report. Relevant rules will be released recently for public comment, the Beijing-based newspaper said.

Source : Konaxis

Lekutian Baidu Rakuten joint venture will hold massive merchants recruitment Lekutian Baidu Rakuten joint venture will hold massive merchants recruitment(0)

According to lekutian webpage, recruitment started from July 29, and last until August 24. Lekutian web will be officially launched on June 9 this year, and accept the general registration from general merchants. Lekutian official said, the online business registration and telephone recruitment are proceeding smoothly.

Japnese Rakuten was established in 1997 which is the pioneer and leader of global e-commerce B2B2C model. With Baidu Rakuten launched lekutian targeting to be super big Chinese online shopping mall. According to the investment handbook, businesses in cigarettes amd liquor are not allowed to register currently.

Data show that China’s online shopping market is in rapid growth in recent years, and transactions in 2009 amounted to 250 billion yuan, with a growth rate of 93.7%. Experts predict the field is expected to exceed 1 trillion yuan in 2013, and number of users who shop online will reach 66% same as the rate in developed countries.

Earlier on May 10, Alibaba Chairman Jack Ma, Masayoshi, chairman of SOFTBANK Group announced cooperation with Yahoo Japan, fully opened the platform of China and Japan online shopping.

Alibaba for the first time carry out overseas acquisitions to enter the U.S. market Alibaba for the first time carry out overseas acquisitions to enter the U.S. market(0)

This is the first overseas acquisition carried out since the establishment of Alibaba. Alibaba claimed the acquisition was a substantial deployment into the U.S. market.

Located in Silicon Valley, California, Vendio Company has 11 years experiences in online retail services, currently helping more than 80,000 independent online B2C retailers sell products by eBay, Amazon with more than 2 billion U.S. dollars transactions.

According to Alibaba disclosure, after Vendio was acquired, it would be integrated into Alibaba “global express sale” in order to help “Made in China” to enter the U.S. consumer market as online express train.

Alibaba CEO Wei Zhe commented the docking of platforms would attract more than 80,000 quality buyers and potential purchasing client base.

It was said that this acquisition would end in July 2010 and Vendio would keep its brand, business and team.

Alibaba.com Buys U.S. E-Commerce Alibaba.com Buys U.S. E-Commerce(0)

The acquisition will give Alibaba access to more than 80,000 U.S. small merchants that use the Internet to buy products, the Hangzhou, eastern China-based company said in a statement yesterday. Terms of the deal for closely held Vendio weren?t disclosed.

Alibaba, backed by billionaire investor George Soros, is challenging U.S. sites eBay Inc. and Amazon.com Inc. for international online buyers and sellers after dominating the e-commerce market in China. Chief Executive Officer David Wei aims to boost overseas revenue to a third of Alibaba?s total, from about 2 percent, he said last year.

The transaction is expected to be completed next month, Alibaba said. Mike Effle, chief operating officer of San Mateo, California-based Vendio, will become chief executive officer of the business, while Vendio CEO Rodrigo Sales will be a strategic adviser, Alibaba said.

The acquisition is part of a $100 million investment plan announced in April for Alibaba?s AliExpress, the Chinese company said. AliExpress is an e-commerce site targeted at international buyers.

Alibaba?s goal is to improve Vendio merchants? profit margin by 30 percent to 50 percent, ?as quickly as possible,? Wei said.

Source : Konaxis

The first online shop license showed up in Hubei The first online shop license showed up in Hubei(0)

Business sector said: This is also the country’s first url endorsement business license.

Online Shop business license has no differences in the format and requirements from other self-employed business license, but in the “place of business” column, it marks the detailed url at taobao of Online Shop.

In recent years, there are more and more online shops. According to incomplete statistics, only Zhuankou areas of Wuhan, there are nearly 300 individual business registered on the Internet. However, with the exposure of net purchase scam, online shopping disputes, online shops also led to many consumer complaints.

It is understood that zhunkou businesss sector request the stores to provide online domain certificate with stamp in that complaints regarding online shopping increased a lot. Business sector will endorse business license after verify the authenticity and publish its business license information in public place.

According to Wuhan business sector sources, following the starting of online shop real name system pilot in the city, it will be promoted across the city.

Alibaba Vice president complained that Express services cannot keep up the pace of e-commerce Alibaba Vice president complained that Express services cannot keep up the pace of e-commerce(0)

After Liang Chunxiao made the above remarks, the hot Taobao logistics strategy was above the surface. June 18, Taobao launched “Logistics Bao” platform, which means its large logistics is above the surface. Gong, director of logistics platform Taobao said logistics would interconnect taobao and logistics, in order to solve the current online stores problems. It is reported that, independent B2C Web site can also use the platform.

Data showed that by the end of 2009, courier companies had a collective price increases for Taobao sellers. Since this year, alibaba was frequently involved in the logistics industry: in March it announced purchasing shares of private courier companies – xing chen ji bian; in May, its online wholesale e-commerce platform “global express sell”, and formed the strategic alliance with world’s largest UPS logistics business.

Liang Chunxiao said: “among the three big mountains that hinder the development of electronic commerce in China, credit and payment have been solved, but logistics still have not been solved yet, but meet more and more serious challenges.”

Interpretation of Central Bank’s third-party payment regulation: License valid for 5 years Interpretation of Central Bank’s third-party payment regulation: License valid for 5 years(0)

Payment institution which intends to continue with “payment business license” should apply for renewal of registration at local branch of Chinese people’s central bank within 6 months before the expiration. Each renewal is valid for 5 years.

Chinese people’ bank announced today at the official website of the “non-financial institution payment service management approach” , without the approval from the Chinese people’s bank, any non-financial institutions and individuals shall not engage in or disguisedly engage in payments business. The method has been approved on May 19, 2010 by 7th President Office Council meeting. Starting from September 1, 2010 the regulations will come into force.

Regulations are clear that if the non-financial institution is going to provide payment services, it should apply for the “payment business license” based on provisions to become a payment institution.

For non-financial institutions in business before the publishing of this approach, they should apply for “payment business license? within 1 year after the implementation of this regulation. Institutions overdue in admission may not continue to make payment business.

eBay to Battle Taobao in China eBay to Battle Taobao in China(0)

Under the plan, eBay hopes to woo Chinese merchants by developing shipping programmes that make it easier for them to sell to US consumers, eBay officials said at a signing ceremony in Shanghai.

“The collaboration will make the most of the advantages of the three while helping expand profits,” Jeff Liao, eBay’s Greater China chief executive and head of Asia-Pacific cross-border trade, told reporters.

The partnership centres on an express delivery service to the US that will be run by China Postal Express and Logistics Corporation, part of China Post, and which will include online tracking systems, eBay said.

The US auction site largely withdrew from China years ago after being overtaken by Taobao, part of China’s largest e-commerce firm, the Alibaba Group, which also operates business-to-business marketplace Alibaba.com.

The American firm shut down its Chinese consumer website in late 2006 and folded its China operations into Eachnet, a joint venture run by Hong Kong’s Tom Online Group, after Taobao won the lion’s share of the Chinese market.

Unlike eBay, Taobao charges no commission to list items for sale and the site’s revenue comes from advertising.

Starting as a consumer-to-consumer auction website, Taobao has grown into an online retailer that also features a growing number online shops run by big brands such as US computer maker Dell.

However, eBay is fighting to make a comeback in China, a market with more than 400 million web users, by refocusing on export-oriented Chinese merchants who are keen to reach overseas buyers through international websites.

The firm’s current Chinese operations include eBay.cn, a Chinese platform targeting Chinese merchants — mostly small and medium-sized enterprises — by offering online training courses on international trade and listing tips.

It also runs Beibao.com, a Chinese version of payment site Paypal.

Source : Konaxis

Shanghai netizens topped the national average online consumption Shanghai netizens topped the national average online consumption(0)

Sha Hailin, Deputy Secretary-General of the Shanghai Municipal Government, Municipal Commission of Commerce, said at the seminar, Shanghai netizens online shopping usage rate, the average spending of online shopping are among the first in the country, close to developed countries.
According to Sha Hailin, Shanghai E-commerce (electronic business channels) transactions increased from 208 billion yuan in 2006 to 325 billion yuan last year, an yearly increase of up to 15.9%, increased by 1.5 times. By the end of last year, the number of netizens in Shanghai reached 11.71 million, the online shopping amount accounted for 5.02% of the city’s social consumer goods sales.

Gu Jiahe, secretary-General of Shanghai Municipal Commission of Commerce, said Shanghai gathered a large number of successful online shopping businesses, such as Chinese and foreign E-Commerces including Bai Lian e-commerce, Bian Li Tong e-commerce, Yi Bei China, Netease and third party payment business such as Hui Fu Tian Xia, Kuai Qian, and Huan Xun etc. and Chinese top class logistics companies such as Shen Tong Express, Yuan Tong Express, Zhong Cheng Express and Zhong Tong Express. “These companies are the important support and potential for Shanghai online shopping development.?

At present, Shanghai is speeding up transformation of economic growth, accelerating building of international economic, financial, trade and shipping center. Sha Hailin, said: “to develop e-commerce is important to the Shanghai Construction ‘four centers’ in particular the International Trade Center. Shanghai will continue to increase promotion of e-commerce applications and innovative models, from height of the World Trade Center to promote e-business development. “

According to the Chinese Academy of Social Sciences published “Business Blue Book” , in 2010 annual online shopping sales will increase to 500 billion yuan close to 3% of year’s total retail sales, while in the retail industry, Internet retailers have maintained much higher steady growth than that of the physical retailers.

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